# Question: The average college student graduated with 27 200 in debt The

The average college student graduated with $27,200 in debt (The Boston Globe, May 27, 2012). Let debt among recent college graduates be normally distributed with a standard deviation of $7,000.

a. What is the probability that a recent college graduate has debt of less than $25,000?

b. What is the probability that a recent college graduate has debt of more than $30,000?

c. What is the amount of debt that places a recent college graduate in the bottom 10% in terms of debt?

d. What is the amount of debt that places a recent college graduate in the top 15% in terms of debt?

a. What is the probability that a recent college graduate has debt of less than $25,000?

b. What is the probability that a recent college graduate has debt of more than $30,000?

c. What is the amount of debt that places a recent college graduate in the bottom 10% in terms of debt?

d. What is the amount of debt that places a recent college graduate in the top 15% in terms of debt?

## Relevant Questions

Scores on a marketing exam are known to be normally distributed with mean and standard deviation of 60 and 20, respectively. a. Find the probability that a randomly selected student scores between 50 and 80. b. Find the ...First introduced in Los Angeles, the concept of Korean style tacos sold from a catering truck has been gaining popularity nationally (The New York Times, July 27, 2010). This taco is an interesting mix of corn tortillas with ...A random variable X is exponentially distributed with an expected value of 25. a. What is the rate parameter ƛ? What is the standard deviation of X? b. Compute P(20 ≤ X ≤ 30) . c. Compute P(15 ≤ X ≤ 35) .On average, the state police catch eight speeders per hour at a certain location on Interstate I-90. Assume that the number of speeders per hour follows the Poisson distribution. In addition to providing the answer, state ...A new water filtration system is sold with a 10-year warranty that includes all parts and repairs. Suppose the life of this water filtration system is normally distributed with mean and standard deviation of 16 and 5 years, ...Post your question